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WHY OFFER IT

Why Offer Health Insurance to Employees

Before enrolling in small group health insurance, employers want to know: Will the benefits outweigh the costs? Here are four reasons to offer coverage through beWellnm for Small Business:

  1. Retain employees. Offering employee health insurance may help attract and retain valuable workers. That saves money on recruiting and training.
  2. Reduce absenteeism.Employees with insurance may be more likely to take advantage of preventive care and screenings. That can help keep employees healthy and on the job.
  3. Boost morale.Providing health insurance shows your commitment to the health and well-being of employees and their families. In return, employees may feel a greater sense of security and loyalty.
  4. Gain tax advantages.Employers can take a tax deduction for the cost of health insurance premiums paid on behalf of employees. In addition, employers with fewer than 25 FTE (full-time-equivalent) employees may be eligible for small business health care tax credits.
 

Small Business FAQs

Find answers to commonly asked questions about enrolling in affordable health insurance through beWellnm for Small Business.

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TAX CREDITS

Review Tax Credits for Your Business

If you qualify for the Small Business Health Care Tax Credit, you may get a break on the costs you pay for group health insurance. You may be eligible for a tax credit if:

  1. You employ fewer than 25 FTE (full-time-equivalent) employees.
  2. You purchase group health insurance through beWellnm for Small Business.
  3. You pay at least half of the premium costs for employees’ insurance coverage.
  4. You haven’t claimed the credit in the past two years. (Employers can claim the tax credit for no more than two consecutive tax years beginning in 2014 or later.)
 

How much is the credit?

Use the Tax Credit Estimator available at beWellnm.com. The maximum credit is 50% of premiums paid on behalf of employees. The maximum credit for small nonprofit employers is 35%. The tax credit phases out based on the number of employees and average wages. Consult a tax advisor or attorney for more information.

 

Small Business Calculators

FTE Calculator ❯ Tax Credit Estimator ❯
ELIGIBILITY

Check Small Business Eligibility

beWellnm for Small Business Marketplace is open to New Mexico businesses and nonprofit organizations. If you can answer YES to all of these questions, you’re ready to go!

  1. Do you employ between 2 and 50 full-time employees?
    • Note: You must have at least 2 employees (other than yourself, a spouse, family member or owner) to purchase a plan through beWellnm for Small Business. If you’re self-employed, you may purchase individual insurance through HealthCare.gov.
  2. Do you offer coverage, at a minimum, to all full-time employees?
    • Note: In addition, you may choose to cover part-time employees and dependents.
  3. Is your worksite address within the state of New Mexico?
    • Note: You must have a valid Employer Identification Number (EIN).
 

When can I enroll?

Open enrollment continues on a rolling basis throughout the year. View our New Small Business Enrollment Calendar and our Renewal Small Business Enrollment Calendar.

 

Can I appeal a decision?

If you believe any decisions about your eligibility are incorrect, you can file an appeal. Call beWellnm for Small Business support staff at 1-800-204-4700 to begin your appeal process.

 

Employee Eligibility

Must live in the United States

Must be U.S. citizens or lawfully present

Cannot be currently incarcerated

COMPARE PLANS

Compare Small Business Health Insurance Plans

beWellnm for Small Business offers competitively priced health plans that cover essential health benefits, as well as preventive care, with no pre-existing condition restrictions.

  1. You control the coverage offered and how much you pay toward employee premiums.
  2. Choose from four metal levels of coverage. Plans with the lowest premiums (bronze and silver levels) generally have higher out-of-pocket costs. Plans with higher premiums (gold and platinum levels) typically have lower out-of-pocket costs.
  3. Once you select the metal level and employer contribution amount, employees can choose any of the health plans offered by participating insurers under that metal level.
  4. The costs depend on the metal level chosen and the amount paid toward premiums.
 

Browse affordable plans.

Search for health insurance coverage available from participating insurers including Blue Cross and Blue Shield of New Mexico (BCBSNM), New Mexico Health Connections (NMHC) and Presbyterian. Compare plans now.

ENROLL NOW  

Get Ready to Enroll

Whether you’ve been down this road before or not, it always helps to have someone on your side. When you’re ready to explore small business health insurance options, take the next step:

  1. Work with a broker. Agents and brokers understand the New Mexico health insurance market and can help you choose the coverage that’s right for your organization. Their services are free to small business owners. Find an agent or broker.
  2. Apply online. Small business owners also have the option to apply for or renew coverage directly through the Marketplace. Set up your employer account.
 

When can I enroll?

Open enrollment continues on a rolling basis throughout the year. View our  Small Group Enrollment Calendar for new and renewing groups.

 

How can I renew coverage?

Employers that signed up for coverage last year will receive notification 75 days before their coverage expires. You may renew your coverage or switch to a new plan. If you need help navigating the renewal process, contact an agent or broker.

 

Small Business Plan Finder

Use the Plan Finder to compare health insurance plans and costs.

Find plans

Stay informed

Sign up for information and reminders for small business.